WE CAN MAKE THINGS BETTER
Debt Management Plan
Debt Management Plan (DMP) is an informal agreement to help you repay your debts in full with a reduced monthly payment over an extended period of time.
- Takes away stress with one simple monthly payment divided between your creditors.
- Your assets are protected and you don’t need to release equity from your home.
- You no longer need to negotiate with creditors.
- DMP demonstrates your willingness to tackle your debts.
- Creditors may be willing to accept reduced payments from a third party.
- Requires your creditors continued support, which can be withdrawn at anytime.
- Any creditor can still take legal action at any time, causing the plan to fail.
- A Debt Management Plan is not legally binding, so you don’t have legal protection.
- Lower, more affordable payments means that it takes longer to repay your debts.